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A few things need to be addressed prior to your WISM 2 migration.

You will need to make sure your SUPS are at 12.2(33)SXJ. This is a requirement for WISM2. Otherwise your SUPs wont recognize the WISM2s.
If your SUP was configured manually to support the WISM1, meaning not configured with the “auto” WISM commands you will need to redo the WISM commands after you upgrade the SUP.
If you did the auto wism commands during your initial WISM1 installation and installed the WISM2. Your old port channels may still be present. You can check this with a #SHOW (WLAN-DIST-A#show etherchannel summary)
Each WISM2 blade will map to a single port channel. If you see more portchannels. You can simply “no” the auto WISM commands, reboot and the reapply the auto WISM commands. This should clean up your excess port channels. It did for me.

There has been discussion in the past whether or not you can transfer WLC config from a WISM1 to a WISM2. You can but you should note the below.

Follow the below guidelines:

Make sure both controllers are on the same code prior to any code transfer
Pull the config from WISM1 by doing a TFTP transfer
Upload the config to WISM2 by doing a TFTP transfer
Update the mobility group IP address on all controllers in mobility group adding new WISM2 and removing old WISM1
Remember to anchor your GUEST WLAN.

Requirements

This is a list of components that are required when deploying WiSM2 in the Catalyst chassis:

Device/Application	SW Versions
Catalyst 650X with 720 Sup*	12.2(33)SXJ or Higher
Ethernet Line-Cards - Tested and Compatible with WiSM2	6148, 6516, 6548, 6704-10Gb, 6708-10Gb, 6716-10Gb, 6748 and 6724
WiSM2 Controllers	7.0 MR1 ver 7.0.116.0
WCS	7.0 MR1 ver 7.0.172.0

* The Catalyst chassis on which the Cisco WiSM2 is installed needs a Supervisor 720 module.

Thanks Scott, Leo and Steve for the edit ..